Sri Lanka’s Bank of Ceylon debenture issue oversubscribed

The Bank of Ceylon said its issue of 50,000,000 Basel III complaint Tier 2 listed rated unsecured subordinated redeemable debentures with non-viability write down features was oversubscribed.

The debentures were issued “at an issue price of LKR 100 each to raise 5 billion rupees with an option to issue up to a further 50 million debentures to raise up to a further 5 billion rupees at the discretion of the bank, in the event of an oversubscription of the initial issue,” the bank said in a statement on the CSE.

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